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MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
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Crypto Biz: Smart money ignores BTC price correction as $800M set to flow into blockchain startups, Dec. 9

Crypto- and blockchain-focused capital raises continue to make headlines as venture funds look to support the emergence of Web 3.0.

Bitcoin’s (BTC) return to sub-$50,000 levels has many market participants fretting over the legitimacy of their favorite price models. For venture capitalists and other smart money investors, the latest decline is nothing but noise. Instead, they see the emergence of an entirely new economy that is transforming business, redefining monetary value and pushing the internet to a new frontier. 

This week’s Crypto Biz newsletter highlights four major funding deals from the world of blockchain. Below is a concise version of the Thursday edition of our newsletter.

10T Holdings plans $500M crypto fund

Earlier this week, equity fund 10T Holdings filed a notice with the United States Securities and Exchange Commission to launch a new $500 million crypto-focused investment fund. The 10T DAE Fund 3.0 has been designed to support mid-to-late-stage companies in the digital asset space. 10T has an excellent track record identifying promising crypto plays, with the likes of Kraken, eToro, Huobi and Ledger already a part of its portfolio.

Binance Smart Chain and Animoca Brands launch $200M GameFi fund

Binance Smart Chain and Animoca Brands have each allocated $100 million to a new development fund focused on the fast-growing GameFi ecosystem. GameFi, which refers to the financialization of gaming, is expected to be one of the biggest trends in crypto in 2022 and beyond. The new fund will focus specifically on projects building on the Binance Smart Chain.

Former Facebook engineers at Mysten Labs raise $36M

Mysten Labs, the research and development firm founded by former Facebook engineers, has raised $36 million from some of crypto’s biggest venture funds, including Andreessen Horowitz, Lightspeed, Coinbase Ventures and Samsung NEXT. If you haven’t heard of Mysten Labs, the infrastructure developer is working on building a Web 3.0 interface, which includes a “next-generation NFT platform for the Metaverse.”

Related: Hong Kong-based Chiron Partners launches $50M Terra fund

Fintech startup Lydia raises $100 million in Series C

Speaking of major funding news, crypto-friendly fintech startup Lydia has concluded a $100-million funding round, bringing its total valuation to over $1 billion. You can think of Lydia as an alternative to the popular Cash App and Venmo peer-to-peer payment services. And much like those platforms, Lydia provides another mobile payment gateway to the cryptocurrency market.

Crypto Biz is a weekly newsletter that provides readers with the latest scoop on the business behind crypto and blockchain. The newsletter is delivered to your inbox every Thursday. Stay informed by subscribing below.

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